MUMBAI: Enforcement Directorate (ED) has attached Omkar Group's eleven flats collectively worth over Rs 330 crore in tower-C of Omkar-1973 building at Worli and land worth Rs 80 crore at Viram in Pune of actor-businessman Sachin Joshi in a money-laundering case. Omkar Group refused comment on the development.
Sources said each flat of Omkar-1973 is spread over more than 10,000 sqft and conservative estimate price of each is over Rs 30 crore. These unsold flats were in possession of Omkar Group.
Omkar group had allegedly manipulated the total number of slum dwellers at its Wadala Slum Rehabilitation Authority scheme project which helped them to increase FSI on the plot. The Omkar group allegedly took Rs 410 crore loan from Yes Bank after creating a notional saleable area in the project and laundered the money through their other projects and Joshi. ED alleged Omkar group had used FSI of the Wadala project in their luxurious Worli building.
Earlier, ED arrested Omkar group promoters Babulal Varma and Kamal Kishor Gupta and Sachin Joshi, promoter of JM Joshi group, in the case. Varma and Gupta are in jail custody while Joshi is out on conditional bail.
A press note by ED said, "During investigation, it was found that loan amount Rs 410 crore was fraudulently acquired by Surana Developers Wadala, a sister concern of Omkar group, through falsely increased slum dwellers numbers and FSI. Of Rs 410 crore, Rs 330 crore was laundered into the sale building of Omkar Group and Rs 80 crore was laundered through Sachin Joshi and his Viiking Group of companies under the guise of services and investment."
Last March, ED chargesheeted all accused with their associate companies. The chargesheet stated that total number of eligible slum-dwellers was manipulated in 2016 after Omkar group took over the Wadala project. Thus, FSI of the plot increased from 2.05 to 4. ED alleged that Omkar group had created a notional 3.5 lakh sq ft saleable component on the Wadala plot with manipulated documents and mortgaged it with Yes Bank for taking Rs 410 crore loan for the project. ED accused Omkar group of not using money for the Wadala project and diverting it to other group companies and associates.
The chargesheet said FSI can be transferred to another after construction of rehabilitation building. It said, "However by false representation in connivance with SRA officers, accused got nod of SRA to club FSI of Wadala project with Worli project."
